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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 64.2. Wills, Trusts, and Fiduciaries |
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SUBTITLE V. Provisions Applicable to Probate and Nonprobate Transfers |
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CHAPTER 27. Uniform Powers of Appointment Act |
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ARTICLE 3. Exercise of Power of Appointment |
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SECTION 64.2-2725. Appointment to taker in default |
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If a powerholder makes an appointment to a taker in default of appointment and the appointee would have taken the property under a gift-in-default clause had the property not been appointed, the power of appointment is deemed not to have been exercised and the appointee takes under the clause. 2016, c. 266 . |